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Adelaide Resources marks broad gold-silver hits at Drummond

Adelaide Resources marks broad gold-silver hits at Drummond

The latest drilling at Adelaide Resources’ (ASX:ADN) Drummond project in Queensland has returned broad intervals of gold and silver interpreted as indicators of a mineralised system similar to large known deposits in the region.

Work at the project’s South West Limey Dam gold-bearing epithermal prospect delivered gold results including 16.8 metres at 0.18g/t, 17.7 metres at 0.17g/t, 19.0 metres at 0.19g/t, and 5.2 metres at 0.34g/t.

Silver results included 96.5 metres at 1.01g/t, 19.4 metres at 0.92g/t, 36.2 metres at 0.91g/t, and 6.3 metres at 1.61g/t.

A field review completed by respected epithermal specialist consultant Dr Gregg Morrison interprets the South West Limey Dam prospect to be a classic hotspring geothermal-epithermal system.

Morrison interprets the long intervals of low grade gold and silver in the latest holes as good indicators of the system being active and mineralised, but from the upper part of the system
above the target high grade gold feeder vein zone.

The finding also suggested the prospect model contains good analogues with significant deposits both in the region and internationally.

In the Pajingo Field, for example, Evolution Mining’s (ASX:EVN) Camembert and Moonlight prospects are hotspring systems with underlying veins hosted in the same stratigraphic units seen in the South West Limey Dam area.

Elsewhere in the Drummond Basin, Wirralie (1.02Moz), Yandan (365koz), and Glen Eva (60koz) are gold deposits of the same style and hosted in the same stratigraphic package as South West Limey Dam. Internationally,

Morrison cites the 1Moz Golden Promise mine in the U.S. state of Washington and the 13Moz Fruta del Norte deposit in Ecuador as deposits of similar character to South West Limey Dam.

The South West Limey Dam results follow quickly on rock chip sampling work at the Drummond project’s Buyip target, where an area of with more than 800 metres of strike produced assays of 5.16g/t, 0.23g/t, 0.23g/t and 0.12g/t gold.




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Andromeda Metals Ltd Timeline

Newswire
September 22 2015

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